Bloomberg pays out to Economist Group over CQ information breach

The two companies said they have taken “appropriate action” to ensure that the unauthorized access by the Bloomberg employees did not continue.

The two media groups were tight-lipped about who the offending employees were or whether any disciplinary action has been taken against them.

Andrew Rashbass, chief executive officer of the Economist Group, said: "I appreciate the way Bloomberg have handled this. I have the highest regard for their journalistic ethics. I am confident that this conduct will not reoccur."

Norman Pearlstine, Bloomberg's chief content officer, said: "Bloomberg appreciates that the Economist Group brought its concerns to Bloomberg's attention, and is pleased that the parties were able to resolve those concerns in a professional and constructive manner."